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I am using the Azure SQL (non-managed) Standard plan on 10 DTUs.

If I bump it up to 200 DTUs, the estimated costs hit $300+. However, if I don't use them will it still charge me that?

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Answer is Yes.

If you want different behavior, consider using Serverless pricing model:

https://learn.microsoft.com/en-us/azure/azure-sql/database/serverless-tier-overview?view=azuresql&tabs=general-purpose

Comparison of Provisioned vs Serverless:

https://vitalidedkov.medium.com/azure-sql-database-configuration-standard-dtu-vs-vcore-provisioned-vs-vcore-serverless-6158776b4784

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